Acme Company Balance Sheet As of January 5, 2019 (amounts in thousands) Cash...
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Accounting
Acme Company Balance Sheet As of January 5, 2019 (amounts in thousands)
Cash
13,700
Accounts Payable
2,000
Accounts Receivable
3,200
Debt
3,600
Inventory
5,100
Other Liabilities
900
Property Plant & Equipment
15,400
Total Liabilities
6,500
Other Assets
800
Paid-In Capital
7,200
Retained Earnings
24,500
Total Equity
31,700
Total Assets
38,200
Total Liabilities & Equity
38,200
Update the balance sheet above to reflect the transactions below, which occur on January 6, 2019
1. Sell product for $40,000 with historical cost of $32,000 2. Sell product for $25,000 with historical cost of $20,000 3. Sell product for $30,000 with historical cost of $24,000
What is the final amount in Retained Earnings?
Please specify your answer in the same units as the balance sheet.
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